GDP grows by 3.8% in September - Economy Ministry

In September 2024, the Ukrainian economy grew by 3.8% [±1%] compared to September last year.

This is stated in the message of the Ministry of Economy, the Ukrainian News agency reports.

For nine months of this year, GDP growth is estimated at 4.5% [±1%] compared to the same period last year.

In September, agriculture showed the greatest growth thanks to the early harvest of late crops.

Growth was also observed in transport and construction.

For the second month in a row, enterprises of trade, industry and construction improve their estimates of their activities for the near future, and one of the key reasons for this optimism is the normalization of the situation in the energy sector.

Economic growth for the first nine months of 2024 is at 4.5%, according to the updated government forecast.

The growth of real GDP in 2024 is expected at the level of 3.5%.

The revival of domestic demand and the stable operation of the Ukrainian Maritime Corridor supported positive trends in industry.

Demand for machine-building products (in particular military-industrial complex) and construction materials, as well as industrial goods for households, is growing.

The revitalization of industry had a positive effect on transport — the volume of rail transportation and cargo processing in seaports increased.

In construction, the volume of work increased due to the restoration of critical infrastructure and road repairs.

In domestic trade, there was an increase in turnover due to the increase in consumer demand and improvement in the supply of goods.

Agriculture is showing positive dynamics due to the start of harvesting of late crops, and animal husbandry is growing due to stable demand and government support.

At the same time, the shortage of qualified specialists negatively affects the expectations and economic activity of businesses.

As the Ukrainian News agency earlier reported, in April-June 2024, real gross domestic product (GDP), according to operational data, increased by 3.7% compared to the same period in 2023.

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